PhonePe smashes UPI records in December 2025

Business Jan 20, 2026

PhonePe handled 9.81 billion UPI transactions worth ₹13.61 lakh crore last month.
That's nearly half of UPI payments by volume and value among the top 10 UPI apps during the month, according to the latest NPCI stats.

Google Pay, Paytm, and the rest of the pack

Google Pay followed with 7.5 billion transactions (about one-third of the total), while Paytm came in third at 1.65 billion.
BHIM even edged past CRED in transaction count—though CRED's payments were much bigger on average.
All together, India saw over 21 billion UPI transactions in December alone—a massive jump from the same month a year earlier (December 2024).

Why does this matter?

UPI is now everywhere—from groceries to fast food runs—and it keeps breaking its own records.